N.J. Admin. Code § 18:23-4.1

Current through Register Vol. 56, No. 9, May 6, 2024

Section 18:23-4.1 - Railroad franchise tax; rates, how computed

(a) The New Jersey railroad franchise tax is assessed against each railroad or system operating in the State of New Jersey at the rate of 10 percent of its net railway operating income adjusted and allocated on the basis of the percentage of all track miles operated within the State to the total track miles operated everywhere by such railroad or system.

(b) The minimum franchise tax payable by any taxpayer is $ 100.00 for taxpayers having total railway operating revenues of $ 1,000,000 or less allocated to New Jersey for the pre-tax year; and $ 4,000 for all other taxpayers.

N.J. Admin. Code § 18:23-4.1

Amended by 49 N.J.R. 456(b), effective 3/6/2017